3 notable altcoins this weekend

The crypto market is currently witnessing a strong wave of optimism, driven by the recent all-time high (ATH) of Bitcoin and the U.S. House of Representatives passing two bills, CLARITY and GENIUS. This positive momentum is expected to last until the weekend, potentially benefiting both altcoins.

The article will analyze three altcoins with growth potential this weekend and that may continue to rise further.

Lido DAO (LDO)

The price of Lido DAO (LDO) surged 25% over the past week, reaching $1.07, following the announcement from BitGo regarding support for native ETH staking through the Lido protocol. This move has made BitGo the first (custody) entity in the US to support ETH staking via Lido, thereby reinforcing confidence in this altcoin and its growth potential in the future.

The above announcement is expected to continue driving LDO over the weekend, with the potential to break the resistance level of $1.18. With strong support shown through the Parabolic SAR indicator lying below the price candles, LDO could rise to $1.34 — equivalent to the highest level in the past 4 months. This upward trend indicates that bullish momentum is continuing.

LDO Price Chart | Source: TradingViewHowever, if LDO cannot break through the resistance level of $1.18 once again, this altcoin may face selling pressure. The price risks dropping to $1.07. If it loses this support zone, LDO could slide down to $0.99, negating bullish prospects and signaling a potential downtrend.

Ethereum Classic (ETC)

The price of Ethereum Classic (ETC) increased by 10% in the last 24 hours and 24% in the last 7 days, reaching a level of $22.88. Currently, this altcoin is facing resistance at the $24.52 mark. For ETC to continue its growth, strong support from investors is required. Breaking through this level is essential to maintain the recent upward momentum and conquer new price levels.

With Ethereum (ETH) just reaching a 6-month high, ETC is likely to benefit from this price surge. The momentum of ETH could help ETC break through the resistance level of $24.52, paving the way for the next rally to $27.21. This will be an important milestone for this altcoin as it continues to attract bullish momentum.

ETC Price Chart | Source: TradingViewHowever, the Relative Strength Index (RSI) indicates that ETC is in the overbought zone, with a value exceeding 70. Historically, this often signals a potential price reversal. If the market cools down, ETC could drop to $20.81, erasing much of the recent gains and invalidating the optimistic outlook.

Cardano (ADA)

The price of Cardano (ADA) has increased by 12% over the past seven days, reaching $0.82. This altcoin has benefited from widespread optimism in the market and the strong upward momentum of Bitcoin. This momentum further supports ADA's growth, and the upward trend may continue if investor confidence remains strong.

In the past week, ADA has been getting closer to the important milestone of 1 dollar. To reach this price level, it first needs to break through the resistance level of 0.93 dollars. The 50-day EMA is showing an upward trend, signaling the potential formation of a golden cross, which could continue to drive the price up strongly in the coming days.

ADA price chart | Source: TradingViewHowever, ADA may face a correction if the market turns bearish. If Cardano falls below the support level of $0.8093, the price could continue to drop further to $0.74 or even $0.70. This scenario would invalidate the current bullish argument, indicating a potential trend reversal.

Dinh Dinh